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Law Capping interest rates
Rank: Elder Joined: 12/4/2009 Posts: 10,820 Location: NAIROBI
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obiero wrote:obiero wrote:obiero wrote:obiero wrote:whiteowl wrote:obiero wrote:obiero wrote:obiero wrote:obiero wrote:obiero wrote:obiero wrote:sparkly wrote:obiero wrote:MaichBlack wrote:Ebenyo wrote:obiero wrote:I told you guys to sell off bank stocks in 2014. Luckily made it out of some major holdings in good time..
but a big percent of your portfolio is still in banks!
so, what do you expect to be a fair hair cut on obieros portfolio as a result of kamwanaas house attempt to please Wanjiku. what will be the overall industries' hit in percentage. my fair guess from my lender's perspective
(16-14.5)/(16*0.5)*100=18.75% conservetively
thieves.
COOP & HF will come out strongest in this.. Too little meat to be bitten out from the two. Plus HF has never been strong on deposits being only licensed to have current accounts a few months ago!! HF will have the least interest expense of all listed lenders
Hey @Obiero. Bill not signed. And please note I did not put the word 'yet' at the end.
Its bound to be signed on Monday 29th Aug 2016
The bankers will visit statehouse with big brown envelop and this story will be forgotten.
Smaller banks will fold
Here we are...
Family fires it's staff https://citizentv.co.ke/...ffs-to-cut-costs-143841/
and then Sidian lays off 108 workers http://www.businessdaily...39550-3428588-151f209z/,
then Ecobank collapses 9 branches http://www.businessdaily...36506-316lohz/index.html
First Community Bank let go of a quarter of its staff http://www.the-star.co.k...losed-number-of_c1451638
And now BoA closes 12 branches. Sad state of affairs http://www.businessdaily...92926-jp394sz/index.html
Sidian, NBK, Family, HF, NIC struggling.. Small banks shall fold
The goose is cooked for NBK
NBK has 9 lives,it was supposed to go down even before Dubai bank but its still standing.
@whiteowl NBK in its current form and shape cannot survive.. It must be absorbed by a real bank. Smaller banks must close shop unless the caps are reversed http://www.nation.co.ke/...79774-14pykoy/index.html
Boom boom pow. Small banks have nowhere to turn
Another one down.. HF is likely to be eaten up by Equity
Smaller banks will continue to fold. NBK towel thrown in. The sector is halfway done with the M&A action
Umehesabiwa obiero? Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 6/23/2009 Posts: 14,320 Location: nairobi
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Ericsson wrote:obiero wrote:obiero wrote:obiero wrote:obiero wrote:whiteowl wrote:obiero wrote:obiero wrote:obiero wrote:obiero wrote:obiero wrote:obiero wrote:sparkly wrote:obiero wrote:MaichBlack wrote:Ebenyo wrote:obiero wrote:I told you guys to sell off bank stocks in 2014. Luckily made it out of some major holdings in good time..
but a big percent of your portfolio is still in banks!
so, what do you expect to be a fair hair cut on obieros portfolio as a result of kamwanaas house attempt to please Wanjiku. what will be the overall industries' hit in percentage. my fair guess from my lender's perspective
(16-14.5)/(16*0.5)*100=18.75% conservetively
thieves.
COOP & HF will come out strongest in this.. Too little meat to be bitten out from the two. Plus HF has never been strong on deposits being only licensed to have current accounts a few months ago!! HF will have the least interest expense of all listed lenders
Hey @Obiero. Bill not signed. And please note I did not put the word 'yet' at the end.
Its bound to be signed on Monday 29th Aug 2016
The bankers will visit statehouse with big brown envelop and this story will be forgotten.
Smaller banks will fold
Here we are...
Family fires it's staff https://citizentv.co.ke/...ffs-to-cut-costs-143841/
and then Sidian lays off 108 workers http://www.businessdaily...39550-3428588-151f209z/,
then Ecobank collapses 9 branches http://www.businessdaily...36506-316lohz/index.html
First Community Bank let go of a quarter of its staff http://www.the-star.co.k...losed-number-of_c1451638
And now BoA closes 12 branches. Sad state of affairs http://www.businessdaily...92926-jp394sz/index.html
Sidian, NBK, Family, HF, NIC struggling.. Small banks shall fold
The goose is cooked for NBK
NBK has 9 lives,it was supposed to go down even before Dubai bank but its still standing.
@whiteowl NBK in its current form and shape cannot survive.. It must be absorbed by a real bank. Smaller banks must close shop unless the caps are reversed http://www.nation.co.ke/...79774-14pykoy/index.html
Boom boom pow. Small banks have nowhere to turn
Another one down.. HF is likely to be eaten up by Equity
Smaller banks will continue to fold. NBK towel thrown in. The sector is halfway done with the M&A action
Umehesabiwa obiero?
I’m in Connecticut! COOP, IMH, KEGN, KQ, MTNU
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Rank: Veteran Joined: 7/1/2014 Posts: 928 Location: sky
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https://www.nation.co.ke/business/MPs-oppose-interest-rate-cap-repeal/996-5266530-on6gs0z/index.html
A parliamentary committee has opposed a proposal by National Treasury to have the interest rate capping law repealed saying it will subject Kenyans to expensive credit at the expense of commercial banks, a majority of them multinationals.
The proposal to amend section 33 (b) of the Banking Act, is contained in the Finance Bill 2019, currently before the National Assembly.
........................
GIVE CREDIT
“I disagree with you. The banks decide who to give credit to. The removal of interest caps will only benefit few shareholders and encourage capital flight,” Mr Atandi said.
Mr Atandi wondered why Treasury was so keen on the matter and whether it is “speaking for the banks that failed to convince us to have the caps removed.”
At some point, Mr Atandi advised the government to stop borrowing from local banks saying it has made the cost of credit so high to the SMES. There are only two emotions in the stock market, fear and hope. The problem is, you hope when you should fear and fear when you should hope
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Rank: Member Joined: 2/20/2007 Posts: 767
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littledove wrote:https://www.nation.co.ke/business/MPs-oppose-interest-rate-cap-repeal/996-5266530-on6gs0z/index.html
A parliamentary committee has opposed a proposal by National Treasury to have the interest rate capping law repealed saying it will subject Kenyans to expensive credit at the expense of commercial banks, a majority of them multinationals.
The proposal to amend section 33 (b) of the Banking Act, is contained in the Finance Bill 2019, currently before the National Assembly.
........................
GIVE CREDIT
“I disagree with you. The banks decide who to give credit to. The removal of interest caps will only benefit few shareholders and encourage capital flight,” Mr Atandi said.
Mr Atandi wondered why Treasury was so keen on the matter and whether it is “speaking for the banks that failed to convince us to have the caps removed.”
At some point, Mr Atandi advised the government to stop borrowing from local banks saying it has made the cost of credit so high to the SMES.
For once MPigs are thinking right.
They must find it difficult....... those who have taken authority as the truth, rather than truth as the authority. -G. Massey.
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Rank: Veteran Joined: 11/13/2015 Posts: 1,658
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tom_boy wrote:littledove wrote:https://www.nation.co.ke/business/MPs-oppose-interest-rate-cap-repeal/996-5266530-on6gs0z/index.html
A parliamentary committee has opposed a proposal by National Treasury to have the interest rate capping law repealed saying it will subject Kenyans to expensive credit at the expense of commercial banks, a majority of them multinationals.
The proposal to amend section 33 (b) of the Banking Act, is contained in the Finance Bill 2019, currently before the National Assembly.
........................
GIVE CREDIT
“I disagree with you. The banks decide who to give credit to. The removal of interest caps will only benefit few shareholders and encourage capital flight,” Mr Atandi said.
Mr Atandi wondered why Treasury was so keen on the matter and whether it is “speaking for the banks that failed to convince us to have the caps removed.”
At some point, Mr Atandi advised the government to stop borrowing from local banks saying it has made the cost of credit so high to the SMES.
For once MPigs are thinking right.
yaaaaaawn...wharever. We accepted and moved on. They repeal, they don't who cares. You can't buck the markets
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Rank: Elder Joined: 12/4/2009 Posts: 10,820 Location: NAIROBI
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Treasury has cut revenue targets by sh.100bn as staff layoffs bite,corporate profits dip and several firms close shop. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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Ericsson wrote:Treasury has cut revenue targets by sh.100bn as staff layoffs bite,corporate profits dip and several firms close shop.
But the economy is booming...... Business opportunities are like buses,there's always another one coming
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Rank: Veteran Joined: 1/20/2011 Posts: 1,822 Location: Nakuru
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Can a slay queen be sent to Jude Njomo with the sole purpose of derailing him from making ammendments to the Banking act? If it happened to Linturi then it can happen to Njomo ama namna gani my friends? Dumb money becomes dumb only when it listens to smart money
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Rank: Elder Joined: 3/29/2011 Posts: 2,242
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Fyatu wrote:Can a slay queen be sent to Jude Njomo with the sole purpose of derailing him from making ammendments to the Banking act? If it happened to Linturi then it can happen to Njomo ama namna gani my friends?
Akothee was in Parliament yesterday. Lets hope it works out "Things that matter most must never be at the mercy of things that matter least." Goethe
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Rank: Veteran Joined: 1/20/2011 Posts: 1,822 Location: Nakuru
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Gathige wrote:Fyatu wrote:Can a slay queen be sent to Jude Njomo with the sole purpose of derailing him from making ammendments to the Banking act? If it happened to Linturi then it can happen to Njomo ama namna gani my friends?
Akothee was in Parliament yesterday. Lets hope it works out
Dumb money becomes dumb only when it listens to smart money
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